https://www.taxtmi.com/caselaws?id=27000 Exchange-loss liability arising from repayment of a foreign-currency loan used to acquire machinery on deferred payment basis was treated as capital expenditure because the additional rupee burden formed part of the asset cost; it was not deductible as revenue expenditure, and section 43A did not assist on these facts. A provision for leave salary on accumulated privilege leave was also disallowed because the liability depended on leave actually being taken or encashed and had not crystallised into a present, certain obligation. Both questions were answered against the assessee. en-us Thu, 04 Apr 1985 00:00:00 +0530 Wed, 10 Feb 2010 10:38:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27000 Exchange-loss liability arising from repayment of a foreign-currency loan used to acquire machinery on deferred payment basis was treated as capital expenditure because the additional rupee burden formed part of the asset cost; it was not deductible as revenue expenditure, and section 43A did not assist on these facts. A provision for leave salary on accumulated privilege leave was also disallowed because the liability depended on leave actually being taken or encashed and had not crystallised into a present, certain obligation. Both questions were answered against the assessee. Case-Laws Income Tax Thu, 04 Apr 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27000